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Australian Dollar Hits Fresh Decade Highs as Cement Maker Gets Sold for $14 Billion
Tuesday, 10 April 2007 21:21:16 GMT
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Previous articles
Previous Articles
Aug 28 -
Oil Drop Competes With Canadian And Australian Data For Forex Action
Aug 27 -
A Rebound In Commodity Prices And Data Helps Comm Bloc
Aug 26 -
High Volatility And Sidelined Commodities Keeps the Comm Bloc In the Red
Aug 25 -
Drop In Stocks And Commodities Keeps Commodity Currencies Under Wraps
Aug 22 -
Australian Dollar to Extend Losses Against US Counterpart
Aug 22 -
Gold, Oil Declines Prompt Commodity Dollar Losses - Consolidations Continue
Aug 21 -
Gold, Oil Rallies Propel the Commodity Dollars Higher, Canadian CPI Hits 5+ Year High
Aug 20 -
Canadian Dollar: Retail Sales Fail to Provide Lasting Boost, Will CPI Do The Trick?
Aug 19 -
Commodity Dollars Gain On Oil, Gold - Canadian Dollar Faces Retail Sales
Aug 15 -
Australian Dollar Headed For Yearly Low
Aug 15 -
Canadian Dollar, New Zealand Dollar Surge Despite Drop In Commodities
Aug 14 -
Commodity Dollars Struggles To Hold Onto Latest Gains
Aug 13 -
Commodity Dollars Make a Comeback As Oil, Gold Futures Rally
Aug 12 -
Australian Dollar, New Zealand Dollar Plunge As Demand For Yield Wanes
Aug 11 -
Australian Dollar Hits 6+ Month Low As Gold Plummets More Than $35/oz
Aug 11 -
Australian Dollar Looks Weak, But a Correction is Likely
Aug 08 -
Gold, Oil Price Declines Weigh On Commodity Bloc, Loonie Hit By Labor Market Data
Aug 07 -
Commodity Dollars Down As Traders Continue To Sell High-Yielders
Aug 06 -
Canadian Dollar Gets Brief Boost From Ivey PMI, Watch Out For Aussie, NZ Employment Data
Aug 05 -
Commodity Currencies: Aussie Gets Slammed as the Reserve Bank of Australia Turns Dovish
Written by Kathy Lien, Chief Strategist
The commodity currencies screamed higher as the Australian and New Zealand dollars registered the day’s most meaningful gains. The AUD/USD hit a fresh 10 high while the NZD/USD hit a new 1 year high. Not only did Australia’s Rinker Group agreed to be taken over by Mexico’s CEMEX, but we also saw a solid increase in job advertisements along with a stable construction sector PMI. This suggests that we could see particularly strong job growth on Thursday. New Zealand on the other hand simply benefited from Aussie strength as their economic data surprises to the downside. The NZIER business opinion survey dropped from +3 to -15 in the first quarter. Meanwhile USD/CAD could not escape the broad dollar bearishness as the currency slipped to a fresh year to date low.
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